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20121101
20121130
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KPIX (CBS) 1
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CBS
Nov 15, 2012 5:00pm PST
at the gas station the 7 gas companies in california said it's not our fault. instead, they blamed accidents like the chevron refinery fire or unexpected maintenance problems. but the biggest price spikes were in may and october. that's months before and after the chevron fire in august. >> we have seen shifts in price of gasoline. >> reporter: it's one of the reason senator mark leno called a committee hearing today. they found that in may, gas prices shot up to 4.41 a gallon which is the equivalent of $48 million in profit a day for the gas companies. in october, they were hiked even higher to $4.71 a gallon. but because of supply, the profit slightly lower for companies but still $25 million a day. >> i feel certain if we do nothing, that which we have seen this year will only repeat itself in years to come and the spikes that we saw in october might look to be minor spikes compared to what we could have in the future. >> reporter: so he called on robert mccullough who has three decades of experience in energy markets. he pored over thousands of documents and believes that the refineries
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